Carney, Erdogan Launch Canada-Turkiye Strategic Partnership

Canada and Turkiye set a target of growing bilateral trade from roughly $3 billion to $10 billion, Turkish President Recep Tayyip Erdogan said Thursday in Ankara, as he and Canadian Prime Minister Mark Carney announced a new strategic partnership backed by a three-year action plan, according to Al Jazeera.

What trade figures did the two leaders announce?

"We hope to increase our trade volume, which currently stands at around $3bn, to $5bn initially and then to $10bn through the steps we will take," Erdogan told reporters alongside Carney, per the joint appearance covered by Al Jazeera. The figures were not broken out by sector or currency denomination in the statement released by the two governments.

What is in the three-year action plan?

The partnership rests on four pillars, according to the joint statement cited by Al Jazeera: trade and investment; defense and security; energy; and people-to-people ties. The statement described the arrangement as providing "a foundation to mitigate shared threats and capitalise on new opportunities" amid what the two leaders called "rising geopolitical uncertainties."

When do free trade talks begin?

Erdogan said the two sides agreed to open free trade agreement negotiations before the end of 2026, with the first round of talks set for next month in Ankara, the joint statement said. The leaders committed to "work toward successful conclusion of a Canada-Turkiye Free Trade Agreement," though no completion date was specified in the material released Thursday.

What sectors will see new investment?

The two governments named energy supply, defense production, aerospace and artificial intelligence as priority sectors for expanded bilateral trade and investment, according to the statement. On energy specifically, ministers from both countries will work on liquefied natural gas, nuclear energy and critical minerals, the statement said — three areas that typically require multiyear capital commitments and regulatory sign-off before volumes move.

What security commitments did Canada and Turkey make?

On the defense and security pillar, the leaders said they intend to "deepen bilateral and multilateral cooperation" and to "strengthen cooperation in support of peace and security in the Euro-Atlantic region and beyond including Ukraine, South Caucasus, and the Middle East, in particular Gaza," per the joint statement. No defense-spending figures or procurement targets were included in the released text.

Why is Canada pursuing this now?

Carney's two-day visit to Turkiye comes as Canada looks to reduce its economic dependence on the United States, Al Jazeera reported. "We have today overcome the disconnect that had persisted between Turkiye and Canada for many years. Now, we are launching a new era between Turkiye and Canada," Erdogan said. Carney, for his part, said relations between the two countries would expand "for generations to come," without citing a specific investment figure of his own in the remarks reported by Al Jazeera.

The next concrete marker for investors and trade watchers will be the first round of free trade talks in Ankara next month, where negotiators are expected to begin translating the $10 billion target and four-pillar framework into tariff schedules and sector-specific commitments.